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Bill115th CongressFiled Sep 10, 2018Taxation
H.R. 6760

Protecting Family and Small Business Tax Cuts Act of 2018

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house with amendment(s) (Sep 24, 2018)

Protecting Family and Small Business Tax Cuts Act of 2018

This bill amends the Internal Revenue Code to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.

The bill makes permanent provisions that:

  • reduce individual tax rates,
  • modify the taxation of the unearned income of children,
  • allow a deduction for qualified business income of pass-through entities,
  • increase the standard deduction,
  • increase and modify the child tax credit,
  • increase the limitation for certain charitable contributions,
  • allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
  • allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
  • exclude from gross income discharges of student loan debt due to the death or disability of the student,
  • repeal the deduction for personal exemptions,
  • limit individual deductions for state and local taxes,
  • limit the mortgage interest deduction,
  • double the estate and gift tax exemption amount,
  • increase the alternative minimum tax exemption amount for individuals, and
  • repeal or limit several other deductions and exclusions.

The bill also:

  • extends through 2020 the reduction in the adjusted gross income threshold for the medical expense deduction,
  • modifies the capital gains tax brackets, and
  • modifies tax filing requirements for married taxpayers.

What just happenedOct 1, 2018

Received in the Senate and Read twice and referred to the Committee on Finance.

Who’s behind it

Rep. Davis, Rodney [R-IL-13](R-IL)Sponsor
40 cosponsors40 R
Read on Congress.gov
40cosponsors2committees24actions1amendments6related bills26subjects
  1. Oct 1, 2018IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Finance.

    Finance Committee
  2. Sep 28, 2018FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Sep 28, 2018FloorH37100

    On passage Passed by the Yeas and Nays: 220 - 191 (Roll no. 414).

  4. Sep 28, 2018Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 220 - 191 (Roll no. 414).

  5. Sep 28, 2018FloorH36110

    On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 226 (Roll no. 413).

    Ways and Means Committee
  6. Sep 28, 2018FloorH30000

    Considered as unfinished business. (consideration: CR H9256)

  7. Sep 28, 2018FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Larson (CT) motion to recommit with instructions, the Chair put the question on the motion to recommit, and announced by voice vote that the noes had prevailed. Mr. Larson (CT) demanded the yeas and nays, and the Chair postponed further proceedings on the motion to recommit until later in the legislative day.

  8. Sep 28, 2018FloorH8A000

    The previous question on the motion to recommit with instructions was ordered without objection.

  9. Sep 28, 2018FloorH8D000

    DEBATE - The House proceeded with 10 minutes of debate on the Larson (CT) motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add at the end the following new title: Title III - Effective Date; "Protect Medicare and Social Security Trust Funds Act of 2018"

  10. Sep 28, 2018FloorH36100

    Mr. Larson (CT) moved to recommit with instructions to the Committee on Ways and Means. (text: CR H9172-9173)

    Ways and Means Committee
  11. Sep 28, 2018FloorH35000

    The previous question was ordered pursuant to the rule.

  12. Sep 28, 2018FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 6760.

  13. Sep 28, 2018FloorH8D000

    Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.

  14. Sep 28, 2018FloorH30000

    Considered under the provisions of rule H. Res. 1084. (consideration: CR H9158-9174; text of amendment in the nature of a substitute: CR H9158-9165)

  15. Sep 27, 2018FloorH1L220

    Rule H. Res. 1084 passed House.

  16. Sep 26, 2018FloorH1L210

    Rules Committee Resolution H. Res. 1084 Reported to House. Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.

  17. Sep 24, 2018CalendarsH12410

    Placed on the Union Calendar, Calendar No. 746.

  18. Sep 24, 2018CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-958.

    Ways and Means Committee
  19. Sep 24, 2018Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-958.

    Ways and Means Committee
  20. Sep 13, 2018Committee

    Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 21 - 15.

    Ways and Means Committee
  21. Sep 13, 2018Committee

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  22. Sep 10, 2018IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  23. Sep 10, 2018IntroReferralIntro-H

    Introduced in House

  24. Sep 10, 2018IntroReferral1000

    Introduced in House

Reported to House with amendment(s)Sep 24, 201817

Protecting Family and Small Business Tax Cuts Act of 2018

This bill amends the Internal Revenue Code to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.

The bill makes permanent provisions that:

  • reduce individual tax rates,
  • modify the taxation of the unearned income of children,
  • allow a deduction for qualified business income of pass-through entities,
  • increase the standard deduction,
  • increase and modify the child tax credit,
  • increase the limitation for certain charitable contributions,
  • allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
  • allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
  • exclude from gross income discharges of student loan debt due to the death or disability of the student,
  • repeal the deduction for personal exemptions,
  • limit individual deductions for state and local taxes,
  • limit the mortgage interest deduction,
  • double the estate and gift tax exemption amount,
  • increase the alternative minimum tax exemption amount for individuals, and
  • repeal or limit several other deductions and exclusions.

The bill also:

  • extends through 2020 the reduction in the adjusted gross income threshold for the medical expense deduction,
  • modifies the capital gains tax brackets, and
  • modifies tax filing requirements for married taxpayers.
Introduced in HouseSep 10, 2018

Protecting Family and Small Business Tax Cuts Act of 2018

This bill amends the Internal Revenue Code to make permanent several tax provisions that were enacted in 2017 and are scheduled to expire at the end of 2025.

The bill makes permanent provisions that:

  • reduce individual tax rates,
  • modify the taxation of the unearned income of children,
  • allow a deduction for qualified business income of pass-through entities,
  • increase the standard deduction,
  • increase and modify the child tax credit,
  • increase the limitation for certain charitable contributions,
  • allow additional contributions to ABLE accounts (tax-favored accounts designed to enable individuals with disabilities to save for and pay for disability-related expenses),
  • allow certain members of the Armed Forces in the Sinai Peninsula of Egypt to receive combat zone tax benefits,
  • exclude from gross income discharges of student loan debt due to the death or disability of the student,
  • repeal the deduction for personal exemptions,
  • limit individual deductions for state and local taxes,
  • limit the mortgage interest deduction,
  • double the estate and gift tax exemption amount,
  • increase the alternative minimum tax exemption amount for individuals, and
  • repeal or limit several other deductions and exclusions.

The bill also:

  • extends through 2020 the reduction in the adjusted gross income threshold for the medical expense deduction,
  • modifies the capital gains tax brackets, and
  • modifies tax filing requirements for married taxpayers.
Protecting Family and Small Business Tax Cuts Act of 2018 — Informed